10-27-14 Council Agenda & Packet

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Brown Supports Providence: The Facts I Brown University Brown Supports Providence: The Facts Voluntary Payments & Property Taxes • Brown joined with Providence's private colleges and universities in 2003 to sign a Memorandum of Understanding (MOU) with the city to establish a substantial and long -term financial contribution to Providence's budget equaling nearly $5o million in voluntary contributions over 20 years. Under the terms of a 2012 Memorandum of Agreement (MOA) with the city, Brown is providing an additional $31.5 million over n years ($3.9 million /year for five years and then an additional $2 million per year for six years). • Brown pays $R9 million in voluntary and property tax payments to the city ($1.5 million in property taxes and $6.4 million in voluntary payments annually). • Brown pays property tax on all parcels acquired since signing the MOU in 2003. (233 Richmond, 222 Richmond, 61 Clifford, Zoo Dyer and 121 South Main). Services & Fees Brown has a longstanding commitment to the city of Providence and has been contributing to public safety and needed infrastructure (maintaining roads, sidewalks, traffic lights, etc.) for decades. Broom pays $2.1 million in fees to the city each year, including $1.3 million for sewer utility fees, $768,000 for water, and another $103,000 in other city and state fees. Brown maintains its own alined, nationally accredited campus law enforcement agency and ambulance service, responsibilities and costs that would otherwise fall to the city. Brown also pays the city about $6o,000 each year for Providence police de- tails to supplement its own force at peak periods such as Commencement. Employer of Choice • Brown generates 8,2oo RI jobs though direct payroll employees, purchasing, construction, student spending, and visitor spending. • 1,46o employees of Brown reside in Providence. • Brown spent more than $67 million on construction in 2009, including $35 million with Rhode Island -based contractors, directly generating nearly 270 full - time- equivalent jobs in construction and related industries. • Brown generates nearly $600 million in total economic output in RI, including $22o million in salaries and wages, an impact equivalent to 1.4 percent of RI's gross state product. • Brown University purchases more than $3o million of goods and services from Providence firms each year (and more than $65 million from RI contractor's and other companies). • Visitors to Brown's new Institute for Computational and Experimental Research in Mathematics (ICERM) at 121 South Main Street added an estimated $1 million to the lo- cal economy during its first year of operation. Creating RI Jobs • Brown alumni, students and faculty have started 25 RI -based companies in the last five years. • 3o Brown- related start -ups and growth -stage companies employ an estimated Zoo people. organizations. These companies are derived from and propel RI's Pagel of 3 http: / /www. brown. edu / web / providence /brownandprovidence.html 10/23/2014